Developer plans to sidle up to Ikea, Yard with Fishers project

A developer with plans for a $3.5 million commercial project wants to join the retail bandwagon on 116th Street and east of Interstate 69.

Indianapolis-based KLC Realty LLC has filed plans with Fishers officials for the development to be located directly east of The Yard—a 17-acre culinary-centric complex that would include nearly 20 restaurants, along with a hotel and retail shops. Anchoring the area's retail boom, of course, is the 289,000-square-foot Ikea scheduled to open Oct. 11 just west of The Yard.

Known as The Stations (see rendering from Curran Architecture at right), the KLC Realty project would include two buildings totaling 13,650 square feet on a 1.6-acre property on the southeast corner of 116th Street and Lynn Drive. It would be west of the Kroger at 9799 E.116th St.

The Stations could include restaurant and retail uses, although businesses such as gas stations, tattoo parlors, nail salons and liquor stores would be prohibited.

The Yard is being led by Thompson Thrift Retail Group and is estimated to cost $40 million to $60 million. No tenant announcements have been made, but details are expected to be released soon.

Parking for The Stations would be located behind the buildings and not visible from the street. The area between the two structures would be designed to be pedestrian-friendly with lights, trees and possibly seating.

KLC Realty is requesting a change in zoning from residential to commercial planned unit development for the project. One single-family residence built in the 1950s is currently on the property and would be demolished.

Construction could start early next year, if approved. The Fishers Plan Commission and City Council are expected to consider KLC's plans in October.